MENA ///

The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) posted continued global success, celebrating a milestone year in its 19th edition, and realizing ongoing industry acclaim from world oil and gas leaders.

Royal Dutch Shell and Total will sign initial agreements on Wednesday to develop oil and gas fields in Iran, in the first European petroleum deals in the Persian Gulf country since sanctions eased earlier this year, an Oil Ministry official said.

Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last week, according to two officials familiar with the talks.

To understand why Saudi Arabia changed course and decided OPEC should go back to managing supply, look at two of the kingdom’s biggest policy challenges: the urgent need to plug holes in its budget and the plan to sell a stake in the state-owned oil monopoly.

Apex International Energy, an independent oil and gas exploration and production company focused on Egypt, is pleased to announce that it has been awarded Blocks 8 and 9 by the Egyptian General Petroleum Company (EGPC) from their 2016 Bid Round.

The EXPEC Advanced Research Center (EXPEC ARC) TeraPOWERS Technology Team, under the leadership of Saudi Aramco fellow Ali Dogru, has achieved a major breakthrough with the industry’s first trillion cell reservoir simulation run.

OPEC ministers flew to Moscow and officials in Vienna launched another round of talks in an effort to salvage an agreement on production cuts, just as Saudi Arabia raised the possibility of leaving without a deal.

Iran is assessing a proposal for a collective OPEC output cut, but hasn’t announced any commitment to reduce its own production as the group tries to end disagreements about how to share the burden of supply cuts ahead of a meeting in Vienna.

Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia as disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna.

Iraq will shoulder part of the burden of oil-output cuts, said Prime Minister Haider Al-Abadi, reversing the nation’s previous insistence for an exemption and potentially removing an obstacle to an OPEC deal next week.

Wood Mackenzie's latest study on Libya's oil production shows the country's output has doubled from 300,000 bopd in early September to close to 600,000 bopd today, adding to the global oil supply glut.